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class as well. it would probably work. but it is a huge controversy from the taxes. ... thank you for taking my call. independent because most of us americans have caught onto the big blame game. , andeach blame each other basically they are on the same team. they have different ways to go about it. my main problem is the epa. we are giving him close to $8 million, and it'll do nothing for us. they let the fracking industry go unregulated, they let solar management go unregulated. they are spraying our skies, trying to dim the sun to fight global warming. nobody knows about it. 02 global sky watch and you can find out all aut i i o knowre i i want to know where is the epa protecting us from this, his name is david frum nasa and he wants to spray and he has been spraying our sunlight dependent. >> host: zachary goldfarb, i know you don't cover epa specifically but the president, climate change is part of the agenda this year. >> guest: that's right and the president is putting money into funding and he proposes billions of dollars for climate research and for related endeavors. epa
-- it would allow americans to remain uninsured through tax season. without a fine. the fine skill up in subsequent years in order to encourage people to join the health insurance pool. republicans are arguing that the obama administration has given breaks to businesses that would have been required to provide health insurance to their employees. republican said that is unfair that individuals will be fined when employers will not be fined. >> the white house plans to announce further delayed some other parts of the wall. what are you hearing? >> what we expect this week is for the white house to actually allow insured companies to continue to offer plans that do not meet obamacare's minimum coverage requirements for the next couple of years. it will be a major delay for the white house, when they announced this. what it will do is allow insurance companies to continue selling policies that otherwise would have been disqualified under obama's rules for minimum health-care coverage. a policy that does not have maternity care or pediatric care or mental health services included could co
up game-changg ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. wi new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com we are thinkers. the job jugglers. the up all-nht and the ones who turn ideas into action. we've made our passions our life's wk. we strive for the moments where we can s, "i did it!" ♪ we are entrepreneurs whstarted it all... with a signature. legalzoom has helped start over 1 million businesses, turning dreamers into business owners. and we're re toelp start yours. lou: a record day on wall street, dow up 74,&p up 9, closing at all-time record high, nazdaq up 2 and cde oil lost 19 cents on the day. gold up $4,. >> yield on 10 year, falling further, down to .64%. -- 2.64%, steers sears stock up more than 6% today. retailer posted tter than expected earnings a nice rprise, and freddie mac will repay the treasury more than $10 billion with total payments no
donald's. it will be expanding the earned tax credit. it is the government's largest program targeted as low income americans. >> the earned income tax credit was first introduced by president ford and has been expanded by democrats and republicans alike because it provides an incentive to work. president reagan called it the country's best anti-poverty and jobs creation bill ever to come out of the u.s. congress, and it was a key part of president clinton's welfare to work program. the basic way the earned a tax credit worked is this an eligible worker will earn a tax credit for every dollar he or she makes. a formula determines how much a worker ultimately receives under the program's caps. that amount the worker receives is then applied to taxes. for example, if someone owed $700 in taxes and has a credit of $900 they would get a refund of $200. working families with children currently stand to benefit the most. they qualify for a credit if they earn under 38,000 to $51,000. generally a salary increase the credit lowers. a married couple with two children making $45,000 would be eligible for a credit of
from american tax collectors. it's the stuff of countless spy novels but senators say it it's all too real. $12 billion hidden away in suisse bank accounts, none of it taxed. top creditors of credit suisse accused of helping u.s. customers evade taxes in hidden accounts and overseas shell companies. brady doingen was contrite. >> credit suisse management team regrets deeply despite the industry leading measures we put in place we had suisse bank private bankers who appear to have violated u.s. law. >> doingen blamed a small group, and whoever is to blame, their methods were cloak and dagger. bank statements were slipped into a copy of "sports illustrated" and handed to a client. and in in an airport where clients never had to leave airport ground. after each transaction account statements were immediately shredded. it was all done without filing any u.s. tax. >> the jigs is up. >> senators want client names, but creditors say they're squeezed between u.s. and suisse law. >> you think you're going to be convicted in a suisse court. is the suisse government going to prosecute you if you
suisse today after a senate board accused the bank for helping americans evade millions in taxes. helping hide as as it is from the government. so far the government has learned of 228 account holders. credit suisse agreed to pay a fine for violating u.s. securities laws. mike viqueira on capitol hill, there were sharp exchanges in that senate banking sub committee hearing room today. >> reporter: you're absolutely right because that investigative committee of the united states senate spent a lot of years looking into the swiss banks, sending billions of dollars into secret accounts to try to aprovide paying taxes here in u.s. it appears certain suisse bankers have nothing--james bond has nothing on suisse bankers. >> reporter: it's the stuff of countless spy novels by some senators say it's all too real. as much as $12 billion hidden away in suisse bank accounts. all secret, none of it legal, none of it taxed. top officials of credit suisse, called before a senate panel accused in a congressional report of helping 19,000 u.s. customers evade taxes through hidden accounts and ov
of the most outrageous tax loophole in america. will he actually do it this year? jeanne moos shows us the latest workout trend. >> nice job, nice job. so we talked about her options. her valuable assets were staying. and selling her car wouldn't fly. we helped sydney manage her debt and prioritize her goals, so she could really turn up the volume on her dreams today...and tomorrow. so let's see what we can do about that... remodel. motorcycle. [ female announcer ] some questions take more than a bank. they take a banker. make a my financial priorities appointment today. because when people talk, great things happen. make a my financial priorities appointment today. she loves a lot of it's what you love about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical
to cut taxes to workers who don't have children. >> let's make this a year of action. >> reporter: following his state of the union, president obama is taking action with his 2015 budget, the people who would benefit low wage workers. for years it has only been workers with children who benefited from the earned income tax credit. under the president's proposal that tax break would expand to those without children. he wants to double a childless worker's tax credit to about $1,000 a year, to offset the cost of the new tax break, the president is proposing an end to an old tax break to the wealthy. that move is projected to garner some $60 billion over ten years. the president is also proposing full-time workers with kids get a bigger tax credit to cover child care costs. he wants to make preschool available for all four year olds. and the tax credit for college tuition, he wants to make that permanent. and proposing funding to upgrade aging highway systems across the country. the plan is expected to help 13.5 million americans. erika pitzi, al jazeera. >>> comes up on al jazeera a
we'll dig into the president's budget. he's proposing new tax cuts to help with child care costs and support low-income workers. we'll talk to the top house democrat on the budget, congressman chris van hollen, right after the break. but it's our job to find them. the answers. the solutions. the innovations. all waiting to help us build something better. something more amazing. a safer, cleaner, brighter future. at boeing, that's what building something better is all about. ♪ at boeing, that's what building somthoughtful combinations,ut. artfully prepared. fancy feast elegant medleys. inspired dishes like primavera, florentine and tuscany. fancy feast. a medley of love, served daily. yeah? then how'd i get this... [ voice of dennis ] ...safe driving bonus check? every six months without an accident, allstate sends a check. silence. are you in good hands? bulldog: bulldog: [yawn] i just had a dream i was at mattress discounters with tempur-pedic and the largest selection of memory foam mattresses under one roof! icomfort, by serta... optimum, by posturepedic... ahh! comforpedic,
banks in particularly. american tax cheats spent million. >> a report if a senate investigative committee, leers in the making. if you go through the pages james bond has nothing on the swiss banks. some senators say it's too real. as much as $12 billion hidden away. secret and none taxed >> top officials of credit swiss called before a senate panel accused of helping 19,000 u.s. customers evade taxes. in testimony their c.e.o. was contrite. >> the management team regrets despite the leading industry compliant members, we had swiss bank private bankers who may have convened american law. >> he blamed is small group. their methods from cloak and dagger. bank statements were slipped into the pages of sports illustrated, a client where they never left grounds, a remote controlled elevato with no but jobles. and after each traction account statements shredded. >> the jig is up. >> senators want client names. bank officials say they are squeezed. >> do you think you'll be convicted in a swiss court. will the swiss government convict you if you comply with the laws. will you be prosec
someone, he actually reformed the tax policy -- and i look a little pink. should i consider spray tanning? this is "bloomberg surveillance ." live from world headquarters in new york. friday before the oscars on sunday. scarlet fu can barely contain herself. joining me are scarlet fu and adam johnson. >> i've got to go by the chips and dip. >> the only problem is you have to be up at 2:00 a.m. monday morning. time for the morning brief. what happened overnight. ecb president mario draghi said policymakers are committed to defending the euro area against inflation. this was in a speech late yesterday in frankfurt. in the u.k., home prices rose as the property market got a boost from low borrowing costs and easier access to mortgages. in italy, the unemployment rate rose to a record high in january. shifting over to japan, industrial production grew the most since 2011 indicating the economy is strengthening. jumble. of data but a all thisrning we got data. starting at 8:30 a.m., gdp. at gdp so look we get in theory they refined any little bit. also, personal consumption -- consumpt
argued that the task code -- tax code is riddled with complicate loopholes that make it harder to invest here and encourage companies to keep profits abroad. last summer i offered a proposed -- proposal to couple business tax reform with critical investments in infrastructure. this budget includes that proposal using the transition revenue that will result from a shift to a simpler, more efficient tax code to create rebounding -- jobs rebounding, our roads and bridges and unclogging our communities. because in today's global conomy, first class jobs dwravetate to first class infrastructure -- gravitate to first class infrastructure and at times this budget lays out how mied a strailings will continue to act it cut red tape and stream line the permitting process for key projects so we can get more construction workers on the jobs as fast as possible. also have the chance right now to beat other countries in the race for the next wave of high-tech manufacturing jobs. my administration has already launched four hubs of high-tech manufacturing where we connect to businesses to research unive
and railroads and mass transit. it provides more money for job training and preschool and it expands tax credits for an estimated 13.5 million low-income workers and it increases taxes more than $650 billion on higher-income americans and it adds $56 billion in fees for big banks. there are also tax increases for tobacco products and airline passengers. the president's plan in print form arrived up on capitol hill this morning -- this morning. congress prefers to do the budgeting itself, so it's not like whatever the president sent would be accepted but it can be seen as a starting point in the debate over the nation's spending priorities, yet rather than a lot of new ideas in these budget books, critics suggest it's more of the same. the republicans say the president's 2015 budget spends, borrows, and taxes too much, neil? >> michael, thank you. it is ironic right now that all of this is going down on fat tuesday, good reason to party in new orleans, maybe, but minnesota republican congresswoman michele bachmann says no reason to celebrate in washington, so congressman, the bottom line is the p
, totaling almost $4 trillion. it includes new tax hikes to offset additional spending for education and job-training. but republicans say it does nothing to address the nation's fiscal challenges. we'll discuss its approach to helping low income americans, later in the program. israeli prime minister benjamin netanyahu is warning the u.s. and the world against letting iran go ahead with any part of its nuclear program: he spoke in washington, a day after meeting with president obama. >> the leading powers of the world are talking about leaving iran with the capability to enrich uranium. i hope they don't do that because that would be a grave error. it would leave iran as a threshold nuclear power. >> woodruff: netanyahu also said that far from easing sanctions on iran, the world should increase them. he also urged the palestinians to recognize israel as a jewish state, if they really want peace. the process of removing syria's chemical weapons is picking up pace. the dutch diplomat overseeing the operation said today the assad regime has handed over six shipments of toxic agents. she spoke
president obama today said he's going to get rid of the most outrageous tax loophole in america. will he actually do it this year? jeanne moos shows us the latest workout trend. >> nice job, nice job. there's this kid. coach calls her a team player. she's kind of special. she makes the whole team better. he's the kind of player that puts the puck, horsehide, bullet. right where it needs to be. coach calls it logistics. he's a great passer. dependable. a winning team has to have one. somebody you can count on. somebody like my dad. this is my dad. somebody like my mom. my grandfather. i'm very pround of him. her. them. phone: your account is already paid in full. oh, well in that case, back to vacation mode. ♪boots and pants and boots and pants♪ ♪and boots and pants and boots and pants♪ ♪and boots and pants... voice-enabled bill pay. just a tap away on the geico app. ♪ huh, 15 minutes could save you 15% or more on car insurance. yup, everybody knows that. well, did you know that some owls aren't that wise. don't forget about i'm having brunch with meagan tomorrow. who? seriou
that number is a result of the obamacare fund. it doesn't say what jobs and it does raise taxes by $1.8 trillion. and we will expand opportunities for every american. >> republicans announcing the plan, saying that it will add more and to her $17.1 trillion debt over the next 10 years. on wall street it was a record breaking sunny day for stocks. the dow jones surging 228 points. the wilshire 5000 post about 25,000 for the first time ever, measuring the paper gains of $375 billion. bouncing back to 2.9% as investors stave off their safe haven investment. radioshack closing up 20% of its stores after the retailer reported weak holiday shares. plummeting 25% today. a reminder to listen to my financial report three times a day coast-to-coast on the sale network. for all of the days business marketing news, we are coming right back. please stay with us. lou: president obama and secretary kerry talking tough. vladimir putin's response. we have an author and attorney and foreign policy expert andrew mccarthy on the crisis and a triple digit rally on wall street. ...return on investment wall
. the majority of the accounts weren't reported for tax purposes to the irs. and the fed wants more information from troubled bitcoin exchange mt. gox, the "wall street journal" saying mt. gox received a subpoena from federal prosecutors in new york last month to preserve certain documents once the world's biggest bitcoin exchange mt. dpox has gone offline. the business is at a turning point, there's a lot of worry the entire business may be bankrupt and gone forever. the controversy surrounding mt. gox putting a lot of pressure on bitcoin prices, $597.75 is where things are trading now. that was a stock, almost like a stock, it's not a real currency sorry to say, joe. >> now you tell us. >> now. >> now you tell us. >> i am not a bitcoin fan. i believe electronic currency of some sort may flourish in some way. i don't know if bitcoin is the way. >> i thought you were a bitcoin advocate. if now your' saying -- >> i'm fascinated by the conversation around bitcoin. >> you know i'm needling you because you have talked about it a lot. i hope no one mistook what you were saying for like an endorsemen
's about our values. as a country we've got to make a decision if we're going to protect tax break for the wealthiest americans or or make smart investments to create jobs and expand opportunity for every american. >> among the proposal an end to the carried interest loophole which allows hedge fund managers to be taxed at a very low rate, spending $302 billion to repair the nation's roads and bridges, and closing the $4 billion worth of fossil fuel loopholes every year. the proposal includes an idea with historically bipartisan support. it's little known but highly effective tax rebate for the poor, earned income tax credit. yesterday in a 200-plus page report in the failures on poverty, budget chair paul ryan wrote, research finds that the best anti-poverty programs encourage work, programs like the earned income tax credit increase labor force participation. the president likes the earned income tax credit and paul ryan likes the earned income tax credit. so how did mr. ryan respond to the president's overture one day later? quote, this budget isn't a serious document, he said i
kind of world war ii camp. allen with al jazeera, north idaho. >>> a tax break for more than 13 million americans, president obama set to unveil the new budget this morning and tell you who will benefit the most if that proposal makes it through congress. plus you might call it thc-tv, marijuana commercials could be coming to a television society near you and life gave them lemons and they made lemonade and going to school. >>> if you think durant is the mbp lebron says not so fast and we will talk about the record in south beach. ♪ welcome back to al jazeera america, i'm stephanie sy, israel's prime minister is pushing back against u.s. diplomacy in the middle east and met with president obama on monday and discussed a framework for reaching a pack with the palestinian and netanyahu had frustration for, syria and iran and to have compromise israel must be secure and netanyahu will deliver the keynote speech to the american, israel publish affairs and apac is the largest and pro-israel lobbying group in the u.s. and as you can see libby casey is joining us from washington and good mor
for the tax rates to pay for that. most definitely. caller: our roads are awful. we have a lot of state roads. repair work would really help. where else do you see jobs available besides infrastructure spending? where else do you think the government can help create jobs? caller: i think in the technology,system, private sector. help bringons would about income to a level of being able to take care of your family, cover your living expenses. if that was not for unions, we would not be able to watch you on television right now. so they can rip off citizens and keep low wages and make big profits. thank you. calling in from philadelphia, pennsylvania. fish and sam says the president's budget should be how not to spend others money. also, dean writes in, too bad the gop will kill his budget. are they totally heartless? commentspage, several on that. allen writes in on her thoughts on the president's budget plan. she says stop messing around with other people's lives. we will continue to bring you comments. we want to hear you on the phone. the phone lines are open. ruben in philly on the line fo
: this rallies the base and expands college access and education for young, poor kids and expanding tax cuts for those in poverty and similar measures the democrats ran on and appreciate. it is a policy document used as a tool for 2015-2016 the final years of the obama presidency. we wants to get something done before leaving. he is figure out a policy plan for the final two years. >> host: is it realistic this plan can get through congress? >> guest: no, i don't think anyone expects the entire budget will pass. i don't think that is that has ever happened. but some things might have opportunity for bipartisan compromise. the business tax code reform would generate revenue to build bridges and roads and generate jobs and that is similar to a proposal that dave camp, the chairman of the house released last week. so ideas in the budget could be ground for compromise. >> host: does he indicate where he is going to act alone? >> guest: there is not so much of that. the president has a robust executive action plan he is implementing and he is taking action and has many more this year. the whiteho
of low interest rates. then on the government side we have less drag from tax increases and spending cuts than we had last year. so i think this year will be noticeably stronger than it was in 2013. >> let's get a quick thought on housing. i agree with most of what you said there bquibble with the ida that incomes are going up very much. there is i'm told a bit of a squeeze on affordability. incomes have not gone up enough to keep up with rising mortgage rates and rising prices. is housing going to slow markedly this year because of that? >> well, certainly affordability has declined from where it was a couple of years ago where we had mortgage rates at 3.25% and prices were down tremendously. however, prices are still down by about 1/5 from where they were at their peak in 2006. we are seeing some job growth, some income growth, and we do see lenders a little bit more willing to lend. so i think although affordability is down somewhat, it's still pretty good on a historical basis. and i think that will be enough to bring people into the housing market. >> thanks a lot, gus. appreciate yo
it is the best poverty fighting idea the government has had in decades. the earned income tax credit. now president obama wants to expand it. in aore, let's bring senior economist for bloomberg government, which analyzes how policy decisions affect business. the earned income tax credit or raising the minimum wage, which works better? going to answer that question specifically. i'm going to tell you why people like the earned income tax credit. they like it because it encourages work. pullingsponsible for six and a half million people out of poverty in 2012, 3.3 million that were children. support ratetisan it has the effect the democrats like any incentives that republicans like. >> you are punting and not answering that. for the sake of argument, run through the things that people like about raising the minimum wage. we have seen that those receiving minimum wage at a higher level feel good about their lives and feel like they don't have to work two jobs anymore, and there are all these psychological benefits that have knock off effects which other economists describe as positive. >> th
taxes for low income families, and increase spending on bridges, roads, and job training. expected toare block the president's budget and offer one of their own. secretary of state john kerry has landed in kia for talks about the future of ukraine. itsce on reducing dependence on russian natural gas, we ask mike to hear from both senator kerry and president obama. putinheard from vladimir for the first time since the outbreak of the prices -- crisis. ryan joins us now from kiev. how did you interpret vladimir putin's remarks? >> the main thing about 's presst putin conferences that we got a sense of what he is thinking. ultimately copy is the only person who knows where this conflict is going to go. for the take away was time being he has no intention to escalate things. he said several things during that press conference, one, he said that he saw no need to send troops into ukraine yet. that was a bit cryptic, because ukraine says there are already 16,000 russian troops in crimea. what he needs, i think, is beyond crimea. into eastern ukraine. he also said that russia has no intention o
as well as tax increase, republicans wanting lower taxes and less of that spending. they will fight it out in the midterm elections and then we may return to budget talks and some sort of accommodation in 2015. >> john, how real is the return of the conversation about tax and interest? i say it in part because it's in some of these bills, but also because the front page of the "wall street journal," see this right here, blowout call for big tycoons that talked about the payout for people like leon black, $560 million with his income, 465 for steven schwartzman and others. i do know it's been put back in some of the bills, but this has been a policy debate we've been talking about for about five years now. >> there's a lot of momentum behind this issue. i would not expect it to pass this year. one of the things that adds to its momentum in terms of the long-term, which we really get to a tax reform discussion which is not going to be this year, is that dave camp, the republican chairman of the ways and means committee, included this interest in his tax reform bill. the administration will h
in crimea and eastern ukraine. president obama rolled out his big tax and spend budget today. it's precisely what the economy doesn't need. former senator jim demint is going to join us and talk about the budget and give us his response to the new piece in this left leaning politico article that asks if mr. demint is the most hated man in washington. of course he isn't. don't forget, free market capitalism is the best path to prosperity. we need a little bit in the ukraine. i'm kudlow and i'll be right back. in a world that's changing faster than ever, we believe outshining the competition tomorrow quires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. >>> secretary of state john kerry promised $1 billion in sanctions to the fledge lg government. are we going to let stand the russian army invasion and the
obama unveils his $4 trillion budget. what's his plan for spending and new tax in the coming year? >>> tough turn around. the radio shack will close over 1,000 stores as it tries to stem a sharp slide in sales. can the troubled neighborhood electronics retailer reverse the trend in this ultracompetitive environment? all that and more tonight on "nightly business report" for tuesday, march 4th. >>> good evening, everyone. russia retreats and wall street gets a massive relief rally. investors bought up stocks after russian president putin pulled troops back from the border of ukraine, allaying worries about an imminent military showdown. the major averages surged 1.5% or more, posting their biggest gains so far this year. even setting a new record close for the s&p 500. now those sky-high gains wiped out all of yesterday's losses and even russia's stock market which lost 12% on monday rose more than 6% today. here's a look at the closing numbers. 9 dow soared 227 points, the nasdaq ended at a fresh 14-year high adding almost 75 points and the s & p jumped 28 points to 1873. that's a
calls for increased spending on education. it extend tax kits to lower-income americans including expanding the earned income tax credit. house speaker john boehner is the one who called it irresponsible. remember, there whats not been a budget passed by congress since 2009. >>> president obama heads to connecticut with his push to raise the minimum wage with central connecticut state university he'll be joined by four governors all in favor of increasing the minimum wage. >> if you like your health plan, you may be able to keep it a little longer. "the washington post" says the obama administration is rewriting affordable care act rules again to let americans keep their plans for up to three more years, even if those plans no longer comply with the law. last fall, the white house gave option of letting policy still be sold in the short term even if they were technically illegal. >>> happening today, the house is set to vote for the 50th time on a modification to obamacare. this would be push back the original mandate for one year and making that penalty zero. this is the first su
. >> well, except for the $1 trillion in new taxes, and he has not yet postponed the individual mandate. so if you don't have health insurance, you are going to face penalties starting next april that is one of the most unpopular parts. >> right. i forgot. you're right. all this stuff should be frozen. i'm not being partisan. i have no idea who will win the eek electric. all i'm saying is nobody likes this anymore. obama doesn't like this anymore. his advisers don't like it anymore. his supporters don't like it anymore. the next will be state-run single payer and that's got to be stopped. the president has already changed this 20 times, most of them illegally. obama is repealing obama care with his pen illegally. the voter should do this through the representatives in congress to make it legal. what the president is doing is against the rule of law. we've got to do this through the process. you're right. basically what he's doing is putting off the uncomfortable parts of this until he gets out of office to leave the mess for the next person. and leave the overall taxes. you've got to go bac
has sold assets, cut its tax rates, $20 per is aiming for share adjusted earnings up from $11.67 in 2010. saw the bays is the proud new owner of the pink star diamond. caret cut stone. the buyer defaulted. 8.3 alieneen a record dollars -- $8.3 million. there's a storm that will move across the country this week and could dump snow from kansas city to boston. it will make for a messy monday morning commute. storm has a silver lining. it is currently bringing much-needed rain to drought stricken california. isare minutes away from what forecasted to be a notable revision, lower, to fourth-quarter gdp. what will that tell the fed? was with one of the that president this morning. what is his thought on what gdp will look like? >> he mentioned the fact that we have this storm coming because that's a big issue. how much has the weather distorted the economy? we saw it in the fourth quarter a little this. how much can you take away from that? we asked charlie loss or about that. p --losser about that. you are continuing to taper if you don't know if the economy is weak because of th
. tonko, will pick up the energy piece. but in the president's budget there are these key sectors, tax policy, education, research, infrastructure. let's start at the bottom and work to the top. the president's proposed a $305 billion, four-year transportation program for the united states. anybody that's driven today or east e west coast coast knows we have gridlock, we have transportation problems of all kinds. so the president comes forward with this major initiative, really a significant increase in what we have done in the past. he wants to focus it first on repairing what we already have. the pot holes, the bridges that have fallen down, and others that might. saying, let's get do that. and then he goes about building the more modern transportation systems that we need, expanding our highway program, but also the rail systems, the inner city rail, the intercity rails nd the street cars and other kinds of mass transportation systems. very, very important. and he proposes how we pay for it. he says, we ought not give the oil companies a -- the big four -- a $5 billion annual tax b
, that is senator bob mennendez. a possible tax break for 13 million americans. president obama unveiling his new budget. we will tell you if it gets an icy chill on capitol hill when that proposal makes it through congress. >> when i first started the learn with ms. sally, it was hard. it was hard. but i -- this is what i wanted to do. >> fighting illiteracy in adults. one man's journey just to learn how to read. al jazeera america gives you the total news experience anytime, anywhere. more on every screen. digital, mobile, social. visit aljazeera.com. follow @ajam on twitter. and like aljazeera america on facebook for more stories, more access, more conversations. so you don't just stay on top of the news, go deeper and get more perspectives on every issue. al jazeera america. >>> any minute now, israel's prime minister is set to address a key group of lobbyists. this is senator bob mennendez addressing the crowd. benjamin netanyahu will deliver his speech to the american/israel public affairs committee, one day after a closed door meeting with the president. they discussed reaching an agreemen
later. ryan chilcote live on the phone from kiev. next, i'm going to take a thatat the tax price rate zara has to thank for that. ♪ >> first. bloomberg. in london.k barton this is "on the move." we are streaming live on your tablet, your phone and now any windows phone as well. it has the best profit margins in the industry, at least in part due to tax loopholes. loop holet tax benefit from? claimis -- a sickly, they the rights to the brand names of the in the text brands -- of the brands. when they have stores in rome or london or paris, the subsidiaries have to pay substantial royalties into this unit in the netherlands. that has the effect of moving billions of dollars of income, taxable income out of those countries and into the netherlands and switzerland, where they have a tax advantage. >> i suppose that affects margins in a different way in different countries, to? countries,fferent too? >> in the netherlands are switzerland they have very low tax rates. in italy and the u.k. and france and germany, it european markets their profit margins have been between three percent an
: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's ly one way for your business go. up. find out if your busess can qualify at start-upny.com but when we sta worrying about tomorrow, we miss out on what matters today. ♪ at axa, we offer advice a help you break down your retirement goals into small, manageable steps. ecause when you plan for tomorrow, it helps you live for today. can we help you take a small ste for advice, retirement, and life insurance, connect with axa. lou: a powerful winter storm, shutting down washington dc along the eastern seaboard. the snowplows are doing their jobs. nevada had to be a thrill and according to one data company, but daiquiri number almost $6 billion because of the added expense and missed work days. joining us now is the "a-team." fred barnes, both a fox news contributor and let's go to "the washington post." because i think by any standard, at least online. president obama's foreign policy is
. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here.xpand here. or start a new business here... and pay no tax for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com coach calls her a team player. she's kind of special. she makes the whole team better. he's the kind of player that puts the puck, horsehide, bullet. right where it needs to be. coach calls it logistics. he's a great passer. dependable. a winning team has to have one. somebody you can count on. somebody like my dad. this is my dad. somebody like my mom. my grandfather. i'm very pround of him. her. them. lou: a powerful winter storm, shutting down washington dc along the eastern seaboard. the snowplows are doing their jobs. nevada had to be a thrill and according to one data company, but daiquiri number almost $6 billion because of the added expense and missed work days. joining us now is the "a-team." fred barnes, both a fox news contributor and lt's
budget. he's trying again today. we'll take a look to see who would be paying more in taxes if he gets his way this time. >>> renowned bond fund pimco has been in the headlines lately with its headline grabbing management changes. we're going to talk with its new deputy chief investment officer about what is ahead for pimco and what was her reaction to that "wall street journal" article saying that bill gross made pimco a tough place to work for. we'll find out coming up. >>> and he's just days removed from serving as the ambassador to russia. michael mcfaul has gone eye all to eyeball with vlad peimir put. did putin just blink or did he wink? (music) defiance is in our bones. defiance never grows old. citracal maximum. calcium citrate plus d. highly soluble, easily absorbed. [ banker ] sydney needed some financial guidance so she could take her dream to the next level. so we talked about her options. her valuable assets were staying. and selling her car wouldn't fly. we helped sydney manage her debt and prioritize her goals, so she could really turn up the volume on her dreams today..
's tax system but it's unlikely to advance this year. republican dave camp chairs the house ways and means committee. he called for lowering the top income tax rate from 39.6% to 25%. he'd also impose a ten percent surtax on earned incomes over $450,000 dollars. house speaker john boehner would not say if the party supports the bill, and he refused to discuss the details. >> blah, blah, blah, blah. listen, there's a conversation that needs to begin. this is the beginning of the conversation. the idea of tax reform is to get our economy going again, provide better, more economic growth, more jobs, and higher wages. the way you do that is bring down rates. and to bring down rates you clean out a lot of the garbage that's in there and the special interest issues that are in there. >> ifill: the last major overhaul of the tax code was in 1986. that data breach at target stores before the holiday shopping season took a hefty toll on the company's bottom line. profit dropped 46% in the fourth quarter, and revenue slipped more than 5%. the data breach allowed hackers to steal personal i
tuesday morning. it increases tax credits for the working poor and expand early childhood education. the president also commented on russia's intervention in ukraine. this is about 15 minutes. 2>> good morning, everybody. i am here at powell elementary school and just had a chance to see some of the outstanding students here. i thought it was an appropriate setting for me to say a few words about the budget i sent to congress this morning because obviously the budget is not just about numbers. it's about our values. and it's about our future. and how well we are laying the groundwork for those young children that i was with a few moments ago to be able to succeed here in america. these kids may not be the most excited people in town on budget day, but it is designed with their generation and future generations in mind. in my state of the union address, i laid out an agenda to restore opportunity for all people, to uphold the principle that no matter who you are, no matter where you started, you can make it if you try, here in america. this opportunity agenda is built on four parts.
u.s. tax evaders. we will talk credit suisse after the break. ♪ >> welcome back to "on the move ." i am manus cranny at bloomberg's european headquarters in london. these are the bloomberg top headlines. from being thene most attractive carry trade that in the emerging markets to the worst in the space of two months. as the central bank's efforts to weaken the currency caused volatility to search. the exchange rate tumbled the most since 2010 earlier this week. losing money for investors who borrowed dollars to buy the yuan. angela merkel is expected to call for a stronger european union during her visit to the u.k. today. the german chancellor arrives in london later. she will address both houses of parliament and have tea with her majesty, the queen. >> i think she is going to try to convince the u.k. to stay in europe. that there are more advantages to stay in than to get out. you can't really pick what you like and not take the rest. i think that is the main message. yatsenyuk won the support of ukraine protesters in kiev to the an interim cabinet and averted a fraud. he says law
is pushing to revamp the tax code. his plan would eliminate dozens of rates. >> i am not going to accept 2% growth as the new normal. i'm not going to accept a minimum wage economy and the fact we are not creating jobs. kids are living at home because they cannot get out on their own. we need to grow this economy and create jobs. one way is through progress tax reform. heat has taken a lot of for this proposal. the banks are fighting against the plan new tax on banks which is intended to offer it -- offset lower rates for individuals. >> i think it affects about six banks. look. they are going from a 35% rate to a 25% rate. in the financial sector, there are not a lot of provisions, loopholes to close because there are not many. they are getting a two minutes tax break. i think it is important there be a trade-off. >> new taxes are going to make it tough for camp to gain support from fellow republicans. the plan is nowhere near firstng law, but is the major reconstruction attempt since 1986. let's move on to the executive branch. president thursday launching a new initiative to provide gre
. extend tax breaks for the poor and help students with loans and raise the minimum wage to 10 person $10 an hour. thanks for joining us. -- $10.10 an hour. >> thanks, melissa. melissa: what do you like about what you heard? >> most republicans and democrats agree the earned income tax credit actually works. i think that is positive. some of the ideas on infrastructure were way behind. we're hopelessly behind on infrastructure spending in this country. we'll have to do something there to make us more competitive globally and moving goods and services about the country. i think that is another plus. you also additional resources in there for nih and for disease research and prevention. i think those are all positives. melissa: it is hard to talk about infrastructure in a positive light though because we see crumbling roadways everywhere but we always have. we had the shovel-ready jobs supposedly ready to go and we don't see it changed. when you talk about spending evening more on it, how do we know this time it will go to the right place? >> you have to recognize that the some of the thing
for expansion of tax credits for the middle class and working poor which the white house says is part of his state of the union pledge to boost economic opportunity for all americans. michelle joins us now from the white house. michelle, how do you think this plays out politically considering how gridlocked things are in washington right now? >> reporter: does this have a chance of passing, you're asking? in a word, and you may already know the answer, no. in presenting this budget proposal, president barack obama wants to address the most difficult issues americans face making living and paying for cost of living. working poor, working minimum wage and working full time. they don't have the tax credits workers with children do. obama wants to expand to workers without children, younger workers. this budget contains $60,000 billion worth. obama wants to help obama pay for child care, tax credits for people with young children, pay for education and save for retireme retirement. republicans have problems with it in specifics like closing tax loop hohole loopholes. some say this does nothing t
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